With more young Chinese who are educated overseas working in the film industry, coproductions between China and Western countries should become easier, Wang says, but adds that it might take long before a successful formula to win markets in the country and abroad is found.

To date, the two highest-grossing Chinese films in North America are Ang Lee's Crouching Tiger, Hidden Dragon (2000) and Zhang Yimou's Hero (2002), both martial arts sagas.

And the highest-grossing films in China are the military-themed Wolf Warrior 2 (2017) and Operation Red Sea.

Speaking about the different tastes in genres, Wang says martial arts movies, a big attraction for the Western audience, are no longer a mainstream genre in China.

But good stories will never be outdated even though the standard for popularity has changed, as most foreign veterans at the forum point out.

Stephen Odell, the general manager of Sony Columbia International, says Indian films such as Three Idiots, PK and Dangal, have won critical acclaim and commercial success in China.